Bank of China Commits to Use of Digital Transformation to Better Service Real Economy


The president of one of China’s big state-owned banks has highlighted efforts to use digital transformation to better fulfil its mandate of serving the real economy.

Liu Jin (刘金), president of Bank of China (BOC), said it was actively driving digital transformation in order to “continually raise the ability to serve the real economy.”

The BOC president that digital transformation had become one of the bank’s key development strategies, as part of broader efforts to deepen financial reforms.

Liu made the remarks on 22 November at the 2022 Financial Street Forum held in Beijing.

“Digital transformation cannot be divorced from an open mindset and an open information system,” Liu said. “In future, Bank of China will continue to accelerate the process of comprehensive digital transformation, continually raise the efficiency and services levels of commercial bank operation, and contribute even more energy to servicing the real economy.”